Clothing Market 2022-2028: Increasing Social Media, Fashion Icons, And Micro-Influencers’ Influence On Consumers
The Global Clothing Market size is expected to reach USD 2,230.07 Billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Steady market revenue growth in the clothing market can be attributed to increasing demand for branded clothing. Branded clothing significantly impacts any kind of business by displaying business name and logo and hence offers a strong marketing opportunity. Branded clothing helps in providing an easy demonstration of an enterprise’s corporate culture. For instance, button down shirts give an idea of a professional work culture, whereas tee shirts represent a fun filled casual environment. Companies also go for branded baseball caps for on-field employees. Moreover, branded clothing is garnering immense traction in organized retail stores, where identical employees’ clothing makes them easily identifiable by customers.
Increasing investment by market players in designing and manufacturing of smart clothing is fueling market revenue growth. Smart clothing, through use of advanced analytics systems and conductive fabrics, enables wearers to collect and measure real-time health related data. Smart clothing is an advancement in wearable wellness and health products for consumers. Smart clothing delivers insights for efficient management of health by automatically tracking bio-signals and efforts put in workouts, such as cycling, weightlifting, and running, among others.
The global consumer goods market revenue growth is primarily attributed to factors such as rapid increase in global population, growing demand for food and other essential consumer goods such as healthcare & nutrition, personal care & hygiene, and electronic products, significantly changing consumer lifestyles and preferences, increasing demand for packaged and processed food & beverage products, and increasing working population. Technological advances in product manufacturing and packaging techniques, rapid adoption of cutting-edge technologies such as AI, IoT (Internet of Things), big data analytics, and robotics & automation in consumer goods manufacturing sector, rising awareness of the adverse environmental effects of plastic packaging, and growing demand for eco-friendly and sustainable packaging solutions are among the other key factors driving revenue growth of the global consumer goods market. Stringent government regulations and guidelines for product quality and safety and rising income levels of consumers worldwide, especially in developing economies such as India, are factors that are expected to further boost market revenue growth. According to this report, the global consumer goods market is estimated to reach USD XX billion in 2028, registering a robust revenue CAGR of XX% during the forecast period.
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Key Regional Markets Covered in the Report:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
Top 10 Profiled in the Global Clothing Market Report:
- Nike Inc.,
- Christian Dior SE,
- Adidas AG,
- Hanesbrands Inc
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Key Takeaways of the Global Clothing Market Report:
- A comprehensive overview of the global Clothing industry.
- Accurate market projections in terms of market size, share, and volume.
- Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
- Deep-dive analysis of the upcoming market trends.
- Qualitative and quantitative analyses of the global Clothing market.
- Elaborate study of the leading regional markets in the global Clothing market.
- Complete overview of the market’s competitive landscape.
- Brief look at the company profiles and portfolios.
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